MAHARLIKA Investment Corp. (MIC) posted earnings of P2.682-billion last year, up from P154.3 million a year earlier, enabling a dividend declaration to the government of 75% of earnings.
In its 2024 annual report released on Friday, MIC said it remained conservative on spending while earning interest income on its startup capital.
“The healthy interest earnings, coupled with a conservative spending approach, resulted in a total income of P2.68 billion in 2024,” the MIC said. “This income enabled the Corporation to subsequently declare P1.45 billion in dividends in 2025, representing 75% of the distributable earnings, further highlighting the Corporation’s commitment to deliver returns to the government.”
In May, the sovereign wealth fund remitted 75% P1.447 billion to the Treasury.
2024 marked its first full year of operations since its establishment on July 18, 2023.
Interest income grew to P2.77 billion in 2024 from P154.3 million in 2023.
In 2024, the MIC had P127.254 billion worth of assets, up 1.7% from a year earlier.
The cash balance was P76.801 billion last year, up 2.4%.
Liabilities declined 46.6% to P668.1 million in 2024.
The MIC said the result reflects “a robust balance sheet and strong liquidity base to support its future investment initiatives and strategy.”
According to its annual report, the MIC has made three investments, in Synergy Grid & Development Philippines, Inc., CP Group Partnership and Interim Financing for Makilala Mining Co., Inc.
Until 2026, MIC said it is prioritizing energy transition and security projects, physical infrastructure and innovation, food and agriculture modernization, social infrastructure enhancement, sustainable mining and resource development as well as climate change mitigation and adaptation.
“We believe targeted investment in these priority areas will yield significant, broad-based benefits across the archipelago,” MIC President and Chief Executive Officer Rafael D. Consing, Jr. said.
The MIC has said it also seeks to invest in five Bases Conversion and Development Authority projects including the Clark International Airport expansion; a New Clark City affordable housing project; the Clark Integrated Public Transport System; the Poro Point Seaport Modernization Program; and the Clark Central Business District. — Katherine K. Chan